Michael Pachter Pleads Bad Memory on Steam Trade-Ins

We're used to politicians and big business chiefs using the 'Bad Memory Defence'. It's the kind of defence that enables people not to admit or deny an event or activity. Wedbush Morgan's arch soothsayer, Michael Pachter, however, is not someone we'd expect it from... but there you go.

Mr Pachter was responding to Eurogamer regarding this morning's tale of Valve's Steam trade-in rumours.

"I saw the headlines yesterday, and honestly don't remember saying that Steam would sponsor trade-ins", he begins.

"I can only surmise that the reporter asked the question that way ('Steam is rumoured to be considering taking digital trade-ins') and asked me what I thought. I have NOT heard this from anybody, and think it had to be the way the question was phrased.

"When I said 'supposedly', it's because the question was posed that way, and is an acknowledgement that I've never heard it before. I am pretty sure it was posed as a hypothetical question, and I was trying to be responsive."

Yup, we didn't understand a word of that either but it certainly used up a lot of words.

So, putting all that bad memory aside, the fact is: "For the record, I don't know anything about Steam's plans to sponsor credits for games purchased in the past. Mr. Lombardi is entirely accurate that I have not spoken to anyone at Valve about this, and I did not hear anything from anybody other than from the reporter who interviewed me."

Carry on soothsaying!